LNP definition
Examples of LNP in a sentence
During the Royalty Term, Metagenomi will pay to Acuitas a royalty equal to [***] of Net Sales of all Licensed Products sold by Metagenomi, its Affiliates, or Sublicensees which, but for the license granted to Metagenomi hereunder, the manufacture, use or sale of such Licensed Product would infringe a Valid Claim of an Acuitas LNP Patent (“Patent Royalties”).
For the avoidance of doubt, Acuitas may, at its discretion, institute proceedings relating to enforcement or infringement of the Acuitas LNP Technology or Licensed Technology against any party before any court or judicial body of competent jurisdiction.
For clarity, the then-current formulation of Licensed Product will mean a single LNP formulation previously tested by Metagenomi in accordance with the Workplan (as defined in the Development and Option Agreement).
If, at any time during the Royalty Term, the manufacture, use or sale of an Orphan Drug Licensed Product does not infringe a Valid Claim of an Acuitas LNP Patent, then the Royalty rate used to calculate royalty payments on Net Sales of such Licensed Product will be the Minimum Royalty.
To the extent not in breach of an obligation of confidentiality, each Party will promptly notify, in writing, the other Party upon learning of any actual or reasonably suspected infringement of any Acuitas LNP Patent by a Third Party, or of any claim of invalidity, unenforceability, or non-infringement of any Acuitas LNP Patent and will, along with such notice, supply the other Party with any evidence in its possession pertaining thereto.